The Hindu Business Line : Canbank MF launches new scheme

Canbank Mutual has launched a new fund — Caninfrastructure. The fund offers a Dividend and a Growth option. The minimum investment is Rs 5,000. The benchmark for this fund will be BSE 100. The new fund offer will be open for subscription between October 11 and November 9, 2005. The fund will invest in equities of companies in the infrastructure sector.

SBI Mutual has declared a dividend of 51 per cent for Magnum Emerging Businesses Fund. The record date is October 31.

UTI Mutual has declared a dividend of 7 per cent (Rs 0.70 per unit) for UTI Dividend Yield Fund.

This is the first dividend payout under this fund. The fund was launched in April 2005. The record date for the dividend is October 27, 2005.

The fund invests in stocks of companies that offer a high dividend yield.

Prudential ICICI Mutual has declared a dividend of 15 per cent (Rs 1.50 per unit) for Prudential ICICI Discovery Fund (Dividend Option).

The dividend will be paid to all investors as of October 11. Re-investment of dividend will be at the ex-dividend NAV as on October 13.

Franklin Templeton has announced that Saturday will be a non-business day for Templeton India Money Market Account, Templeton India Treasury Management Account and Templeton Floating Rate Income Fund Short Term Plan. This is effective October 15.

Prudential ICICI Mutual has announced that Saturday will be treated as a non-business day for Prudential ICICI Liquid Fund and Prudential ICICI Floating Rate Plan.

This will be effective October 15. If any valid redemption requests are received on Friday before cut-off time, they will be paid on Monday or the next business day.

SBI Mutual's Magnum MultiCap Fund has opened for investment and redemption on an ongoing basis.

This fund had garnered a corpus of about Rs 2,100 crore during the new fund offer period; this is the highest amount raised by an open-end fund in the new fund offer period.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page